DTN Closing Livestock Comment 06/07 15:59
7 Jun 2016
DTN Closing Livestock Comment 06/07 15:59 Cattle Futures Close Mostly Lower For the most part, the cattle complex settled moderately lower, checked by lower liquidation and profit-taking. The lean hog market finished with mixed prices with nearbys losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cattle cash trade was not tested Tuesday, given no more than a few starter bids (e.g., $125 in the South, $204-$205 in the North) and some preliminary asking price suggestions (e.g., $130-$132 in the South, $210-plus in the North). According to the closing report, the national hog base is $2.81 higher compared with the Prior Day settlement ($68.00-$79.00, weighted average $77.21). Corn futures firmed late in the session to close one-half to 3 cents higher with most of the buying interest focused on new-crop issues. U.S. stocks closed with energy leading as oil settled above $50 a barrel for the first time since July. The Dow closed up 17 points with the Nasdaq off 6.